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Australian inflation accelerated, snapping three months of easing, sending government bond yields higher as traders fretted about potentially another interest-rate increase next week.
Now that all major Canadian banks have released their most recent quarterly earnings, one analyst said he is concerned about the health of Canada’s housing market due to the impact it could have on consumers.
Record net migration into the UK drove property rental costs up by as much as 7% and could be behind the manic market facing tenants in London, according to economists at Capital Economics.
Home prices rose for a second straight month as buyers returning to the market competed over few homes for sale.
UK lenders are removing mortgage deals from the market again as fresh increases in rates make loans more costly.
Jan 10, 2023
The Canadian Press
A new report from TD Economics predicts Canada will see the weakest level of home sales since 2001 this year.
The housing market outlook from economist Rishi Sondhi attributes the prediction to the poorest affordability level since the late 80s and early 90s.
Sondhi is forecasting that home sales will reach their bottom sometime in early 2023, after declining 20 per cent from peak to trough.
He says steep annual average price declines are expected in most of the Atlantic provinces, Ontario and B.C. in 2023, while lesser drops will materialize across the Prairies and in Newfoundland and Labrador.
The Canadian Real Estate Association said last month that the actual national average home price was $632,802 in November, a 12 per cent decline from the same month last year.
November home sales totalled 30,135, a 39 per cent drop from a year prior.
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